Posted 20 March 2024
Food inflation went down from 20% to 5% now
Food inflation went down from 20% to 5% now in comparison to the last year.
However, the price keeps rising. So supermarkets such as Morrisons and Ocado tend to offer a money-off voucher as often as possible. Noticeably…
Then I am aware that everything including labour costs and energy etc went up significantly…… so it went up and will not be going down unless the quality of a product is compromised. Not sure what point I wanted to make here… just want to know the view of others regarding this in any sense .
Can we just think of this as it’s not so much different since the wage of everyone went up anyway?
However, the price keeps rising. So supermarkets such as Morrisons and Ocado tend to offer a money-off voucher as often as possible. Noticeably…
Then I am aware that everything including labour costs and energy etc went up significantly…… so it went up and will not be going down unless the quality of a product is compromised. Not sure what point I wanted to make here… just want to know the view of others regarding this in any sense .
Can we just think of this as it’s not so much different since the wage of everyone went up anyway?
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sorted byIf..and it's a big if, your salary is increasing faster than the increase in expenditure then things may seem cheaper. However this assumes your salary has always done this. If not you are probably still playing catch up.
It is also worth remembering that the inflation calculation is based on a basket of goods to provide a comparison. If you buy products other than these you may still find higher increases
As you say food went up but by a similar % to minimum wage in most cases. (edited)
BUT were also much more expensive than Tesco & Sainsbury for the stuff I buy. It just proves people of habit need to at least try to have a look around another supermarket & see for themselves if what they buy can be substantially cheaper elsewhere.
Yes, I know it depends on your shopping basket but at least check other supermarkets out. Sainsburys had a reputation of being the most expensive of the big 4 but that is no longer the case, in my opinion.
Plenty of examples of that on this very site - in fact, you could argue, it's the reason for this sites popularity/existence.
Consequently, its NOT that inflation is decreasing, but it's the rate that's decelerating (i.e., the pace at which inflation increases).
Inflation will only fall / decrease when a deflationary environment occurs, where central banks typically introduce negative interest rates.
It may be of interest to know that only a couple of days ago that Japan finally shifted away from the decades of deflation, with its central bank introducing a positive interest rate for the first time since 2007.
To put inflation into hard currency, here's what £1000 held at the start of each of the years over the past decade would be worth on 1 Jan 2024:
1 Jan 2023: £911.65
1 Jan 2022: £817.00
1 Jan 2021: £785.22
1 Jan 2020: £773.61
1 Jan 2019: £754.26
1 Jan 2018: £729.88
1 Jan 2017: £704.62
1 Jan 2016: £692.60
1 Jan 2015: £685.81
1 Jan 2014: £669.99
1 Jan 2013: £650.23
1 Jan 2012: £629.99
1 Jan 2011: £598.83
1 Jan 2010: £572.41
Inflation is a destroyer of wealth. $BTC is a wealth generator. HODL and become diamond hands.
Source of data:
ONS = ons.gov.uk/eco…m23 (edited)